Here are today's newsbites.

Smaller clothing retailers - pushing sales

Smaller clothing retailers grew four times faster than the market last year, outstripping their larger retail counterparts, according to retail research company Verdict. Average total sales growth was 16% for smaller operators, against 3.6% for the total clothing market.

Several smaller retailers saw extremely strong sales growth. Zara saw growth of 70% last year, Jigsaw - 30%, and Ted Baker - 24%, well in front of the best-performing of the big players, George @ Asda - 16.5% and Next - 13%.

Richard Hyman of Verdict said "these retailers prove that strength of brand and focus are more important than scale and low prices".

Burberry - strong figures expected

Burberry is expected to post underlying profits today for the full year of £139 million, against £117 million the previous year, says The Telegraph.

Start-up firms feeling confidant

Accountants Ernst & Young, in their latest quarterly survey of 1000 start-up firms has found a "cautious optimism"in their outlook for the future. The number of firms fearing a downturn fell from 34% in the last quarter of 2003, to 30% in the first three months of this year.

Umbro - troubling claims

Yesterday's Sunday Times reported that Umbro the sportswear company, will be accused this week of using sweatshop labour at it tries to complete a £200 million stock-market flatation. The claims are being made by campaign group 'Labour Behind the Label', and could not come at a worse time for Umbro, just before the start of Euro 2004. Umbro supplies the England team with their kit, and uses England and Liverpool striker Michael Owen as its frontman.

Opec - urged to raise oil production levels

Finance ministers of the Group of Seven leading industrial nations, yesterday urged Opec to raise production levels to prevent surging oil prices, saying lower prices would benefit the world economy.

Susanna Drewry

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